Zacks: Analysts Set $6.00 Price Target for Aptevo Therapeutics Inc (APVO)

Shares of Aptevo Therapeutics Inc (NASDAQ:APVO) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 1-year consensus price objective of $6.00 for the company and are anticipating that the company will post ($0.32) EPS for the current quarter, according to Zacks. Zacks has also given Aptevo Therapeutics an industry rank of 194 out of 265 based on the ratings given to related companies.

Several analysts have commented on the stock. ValuEngine lowered shares of Aptevo Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Piper Jaffray Companies reissued an “overweight” rating and set a $6.00 price target on shares of Aptevo Therapeutics in a research report on Thursday, October 5th.

Aptevo Therapeutics (NASDAQ APVO) traded down $0.03 during mid-day trading on Friday, hitting $3.37. 92,440 shares of the company’s stock traded hands, compared to its average volume of 276,107. Aptevo Therapeutics has a 1-year low of $1.15 and a 1-year high of $4.85. The company has a quick ratio of 7.67, a current ratio of 7.76 and a debt-to-equity ratio of 0.19.

Aptevo Therapeutics (NASDAQ:APVO) last released its quarterly earnings results on Thursday, November 9th. The biotechnology company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.25 by ($2.11). Aptevo Therapeutics had a net margin of 5.40% and a negative return on equity of 28.03%. analysts predict that Aptevo Therapeutics will post 0.43 earnings per share for the current year.

In other news, VP Randy Joe Maddux purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was acquired at an average cost of $2.76 per share, with a total value of $69,000.00. Following the completion of the transaction, the vice president now owns 25,000 shares in the company, valued at approximately $69,000. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its position in shares of Aptevo Therapeutics by 87.2% in the 4th quarter. Acadian Asset Management LLC now owns 67,799 shares of the biotechnology company’s stock valued at $287,000 after purchasing an additional 31,578 shares during the last quarter. Legal & General Group Plc raised its position in shares of Aptevo Therapeutics by 11,751.3% in the 2nd quarter. Legal & General Group Plc now owns 393,701 shares of the biotechnology company’s stock valued at $815,000 after purchasing an additional 390,379 shares during the last quarter. Precept Management LLC purchased a new position in shares of Aptevo Therapeutics in the 2nd quarter valued at approximately $1,210,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Aptevo Therapeutics by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,729 shares of the biotechnology company’s stock valued at $2,187,000 after purchasing an additional 78,109 shares during the last quarter. 32.28% of the stock is owned by hedge funds and other institutional investors.

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About Aptevo Therapeutics

Aptevo Therapeutics Inc is a biotechnology company. The Company is focused on oncology and hematology therapeutics. The Company is engaged in the discovery, development, commercialization and sale of oncology and hematology therapeutics. The Company’s technology is the ADAPTIR (modular protein technology) platform.

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